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2026-04-21 09:10:54
[New Governor of the Bank of Korea Shin Hyun-song: Monetary Policy Needs to Respond Cautiously and Flexibly to the Middle East Conflict] (1) Shin Hyun-song, the new governor of the Bank of Korea, said on Tuesday that against the backdrop of rising inflation and economic uncertainty caused by the Middle East conflict, monetary policy needs to remain cautious and flexible in order to seek price and financial stability. (2) He pointed out that the oil price increase triggered by the war with Iran has exacerbated upward pressure on inflation on the one hand, and downward pressure on economic growth on the other, while also exacerbating financial market volatility and accumulating risks of financial instability. (3) Shin Hyun-song began serving as governor of the Bank of Korea on Tuesday for a four-year term and will chair his first policy meeting on May 28.
